Diabetes Therapeutics Market Overview:
Global Diabetes Therapeutics Market was valued at $66,993 million in 2016, and is estimated to reach $186,842 million by 2023, growing at a CAGR of 16.0% from 2017 to 2023. Diabetes therapeutics are drugs used by diabetics to maintain the blood glucose levels to restore the blood glucose metabolism to a normal state.
The factors that drive the global diabetes therapeutics market include rise in geriatric population and increase in prevalence of diabetes worldwide due to increased obesity, urbanization, poor diet, and substandard healthcare conditions in some developing and underdeveloped countries. Moreover, the development of affordable & effective diabetes therapeutics, growth in awareness among people about self-management of diabetes, and support from the government further boost the market growth. However, side effects of diabetic drugs and stringent approval process for drugs restrain this growth. Rise in awareness about diabetes care and untapped market opportunities in developing regions are expected to provide numerous opportunities for market development.
Diabetes Therapeutics Market Segmentation
The injectable segment witnessed rapid growth due to rise in prevalence of diabetes, increase in geriatric population, and high demand for self-care. Moreover, injectable can be used for both type-I and type-II diabetes, whereas OAD are used majorly for type-II diabetes. In addition, there is increased awareness about use of insulin (one of the injectable) as an anti-diabetic drug. Therefore, adoption of insulin is high in most of the regions of the world, which is expected to stimulate the growth of this segment.
Diabetes Therapeutics Market, By Product, 2016 (%)
Snapshot of LAMEA Diabetes Therapeutics Market
According to IDF seventh Edition, about 29.6 million of the adult population in the South and Central America regions suffered from diabetes in 2015, of which, about 39.0% of them were undiagnosed. The presence of large number of people with diabetes in this region and developing healthcare facilities are expected to fuel the market growth.
According to the United Nations World Population Ageing Report, around 64.4 million people in Africa and 70.9 million people in Latin America and Caribbean belonged to the age group of 60 years and above in 2015. In addition, purchasing power has increased in this region, which fuels the market growth. Moreover, government organizations in this region focus to improve the healthcare infrastructure by increased funding, which boosts the growth further.
Saudi Arabia Diabetes Therapeutics Market, 2016-2023 ($Million)
The list of key players profiled in this report include AstraZeneca plc, Boehringer Ingelheim GmbH, Eli Lilly and Company, GlaxoSmithKline plc, Johnson & Johnson, Merck & Co., Inc., Novartis AG, Novo Nordisk, Sanofi S.A., and Takeda Pharmaceutical Company Limited.
Key players in the value chain include Astellas Pharma Inc., Biocon Limited, Diasome Pharmaceuticals, Inc., Generex Biotechnology Corp., MannKind Corporation, and Pfizer Inc.
- The study provides an in-depth analysis of the market with current trends and future estimations to elucidate the imminent investment pockets.
- It offers information about the current and upcoming trends in the market from 2016 to 2023 to determine the prevailing opportunities.
- Comprehensive analysis of factors that drive and restrict the market growth is provided.
- Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on a global and regional scale are provided.
- Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the global market.
Diabetes Therapeutics Market Key Segments:
- Glucagon-like Peptide-1 (GLP-1) Receptor Agonists/Incretin Mimetics
- Amylin Analogue/Amylinomimetic Drugs
- Oral-antidiabetic Drugs (OAD)
- Alpha-glucosidase Inhibitors
- Dipeptidyl Peptidase IV (DPP-4) Inhibitors/Gliptins
- Sodium-glucose Cotransporter-2 (SGLT2) Inhibitors/Gliflozins
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA